Redevelopment PMC & Construction Consultants
What We Do
REX PMC – Building ka Doctor is founded to extend techno-Legal – Economical services for the Redevelopment of co-operative housing societies. Rex strives to bridge the gap about domain knowledge among families staying in old buildings in order to ensure maximum financial gains for CHS members and to enable their smooth transition to new accommodation. The company has been envisaged by joint efforts of industry experts in the field of project management, construction quality auditing, architecture, real estate, land valuation, project structuring, legal and accounting.
- Deemed Conveyance – Land Transfer
- Techno Legal Financial Advisors
- Architectural and Structural Design
- Laison for Approval for various Govt. Dept.
- DM / Self Redevelopment / Joint Venture
- Advice – Monitor – Audit as Third party
Through detail documentation defining the stakeholders’ expectation, execution methodology, project risk mitigation techniques, quality control and resource management based upon the guidelines of PMI-USA.
Simple change in our attitude of getting members consensus on “how will the decisions be taken?”, makes us more trustworthy and brings transparency into the entire process.
Multiple iteration with loop-based process keeping stakeholders at center of the process ensures that no corner goes untouched. This enhances the project viability and reduces the project risk more specifically as in case of self-redevelopment
Research being the core competency of our organization, our feasibility reports and developer appraisals are based upon the on-ground market intelligence gathered since 1995.
Developer Redevelopment being the joint venture between the society (land owner) and the developer, our focus mainly lies in balancing the expectations through techno-financial expertise of our team.
Industry’s leading experts from the field of Architecture, Engineering, Real estate and Finance to support all your techno-financial requirements.
FAQ’s on Redevelopment
Model – 1 – Society invites developer to take up building project – Construction of new building with new FSI – to invest money / to do management / get approval / complete construction. Society allows developer to sale additional salable area to recover cost & profit in proportion of money invested – work done.
Society gets extra carpet area / hardship compensation – corpus / rent / other benefits.
Developer offers to do project as above in lieu of Sale rights of salable area only.
Example – MHADA / Textile mill land / Cess properties / all Govt. owned property / SRA / Private Society where land rights remains with existing society before & after project.
Model – 2 – Society invites & offers the development rights to developer and demands benefits in form of ( cash or Kind) extra carpet area / hardship compensation – corpus / rent / other benefits.
Developer offers is in lieu of entire Development & Sale rights of the society plot.
Example – A farmer / society selling land for development in lieu of money / benefits.
The problem – 80% of private society has adopted this model due to ignorance & Developers high handiness / Greed. 90% of Architects / Engineers / Advocates suggest this option, due to lack of research & analysis / easy money.
- Equal & proportionate distribution of additional property to be created under redevelopment.
- Project Timeline – as less as possible / minimum or less that 4 – 5 yrs..
Option 1: To address the queries as & when asked .(90% of Industry – Easy – for MC & PMC but tough for members)
Option 2: To organize the entire process in such way that maximum information about project must reach to all members before decision.(Tough for MC & PMC but Easy for members )
Theory – 1 – follow amateur / normal – As and when work – issues appears – the solutions to be provided . ( Reason fees / more fees ? ) It is legal & technical – works better for corporate identity of Construction industry .
Theory – 2 – Socialist PMC – follow Standard / normal – Simplification of project & information.
First it has to be Social then – technical & legal – works better for NON – Corporate identity like housing society.
To visualize entire project through social – legal – technical – financial angle in advance and provide conceptual information, forward to all before decisions for project process . Create awareness among all members . So less issues appears = the solutions results into TRANSPARENCY = UNITY .
As REX PMC – we are of 99 model PMC – 10 years prior to other 09 models of PMC.
Why Theory 2 ? An effective & good PMC required to do such activity .
It is social redevelopment – means involve all the members . how ?
Redevelopment means – Reconstruction of our own home jointly.
If 100 members means – home for 100 families = 500 persons.
Everyone to be involved / needs to put in just one hr per week for 2 / 3 years. For redevelopment of your own home .
- Youngsters – Board to non married – Search for good design building – 6 mths – present three – get prizes.
- Ladies – Search & look & decide quality of building finishing materials ( tiles – paint – fittings – etc )
- Active members – ( at Building ) to works at all issues .
- Active members – ( external ) to work at other general issues.
- Senior Citizens – Watch all members at society till vacation / watch site with tape in hand
- Conveyance of the property
- Property Card in the name of the Society
- Old Occupation Certificate along with Plans
- CTS Plan
- List of Allotment of Members along with the carpet area
- Development Plan Remark
The Real Estate Regulation and Development Act of 2016 was introduced and passed by the Central Government of India in order to safeguard home buyers and to also encourage investment in the real estate industry. Buyers’ grievances can be directed to MAHARERA for a quick resolution. The act covers the end to end process of purchasing a home, as well a redevelopment.
A Cooperative Housing Society may provide a limited Power Of Attorney to a developer in order to obtain the necessary approvals. Some of the essential approvals needed (but not limited to) are: NOC from the Chief Fire Officer, Traffic NOC, Storm Water NOC, NOC from BMC for water, NOC for a Borewell, Building Proposal Department’s approval, among others.
- A Special General Body Meeting must in majority approve the redevelopment of the project.
- Appointing a legal and a project management consultant so that the housing society members are guided appropriately through the whole procedure
- Obtaining bids from various developers/builders.
- Vetting the bids, and accordingly selecting a builder/redeveloper who meets the required legal and financial requirements.
- Obtaining the necessary approval for the plans from various regulatory bodies, and then allotting the developer.
- Obtaining the necessary signatures on the documents required in order for the process to go ahead.
- Fulfilling all financial and other commitments, and then ensuring the building is vacated, and possession of the existing premises is handed over to the assigned developer/builder.
- Once the redevelopment project is completed, issuing of the Occupancy Certificate, and handing over possession to the owners.
Any building which has not utilised the full potential of the plot of the prevailing DC regulations can opt for redevelopment. This is subject to the housing society and the owner having a clear, marketable Title.
When considering a developer to implement a redevelopment project, keep the following in mind:
- The financial stability of the developer
- Past performance
- If there is there any litigation against the company / group of companies?
- Has the developer adhered to all statutory payments and compliances?
Transparency is one of the most important factors to be considered during redevelopment. All the necessary terms and conditions must be listed and documented beforehand. No conditions should be accepted orally. Illegal activities are absolutely not permitted during the process of redevelopment
There are several factors that go into determining the value of the offer. Each project’s feasibility varies on several things, some of which are the existing utilization of the building, the plot, and how it is connected to the road, and sometimes even if road widening is needed
Existing housing society members can purchase additional area from the developer. As existing members, they may be able to enjoy preferential rates. The payment terms will be worked out as per the progress of work. Member’s heirs may also purchase area and can become co-owners by availing housing loans if needed
When a project is redeveloped, there are a number of benefits that the home owner can receive which include:
- Additional area over and above their existing carpet area
- Hardship compensation
- Reimbursement of rent
- Brokerage charges, relocation charges etc.
In a redevelopment project the stamp duty registration and statutory payments on the area are borne and paid for by the developer. Any pending payment of the existing members shall be borne by themselves. If a housing society member purchases additional area, all payments such as Stamp Duty, Registration, GST etc. will have to be borne and paid by them
A cooperative housing society works on a majority and is not run by an individual. A majority of 75% votes is required to carry out a redevelopment project. No individual member for his personal gains can stall the redevelopment of a project
Once a developer is selected, and the development agreement is registered, it takes about six months to get the necessary permissions from the Municipal Corporation following which the construction can commence.
Past Projects List
NAGARI NIWARA PROJECT for EWS
1995 – 2000, Dindoshi
Ratna Samuh Redevelopment Project
2001 – 2002, D.N.Nagar
Aditya ‘B’ Society
2006 – 2007, JVPD
Aditya ‘A’ Society
Aditya ‘C’ Society
MANDKESHWAR KRIPA SOC
2012, Dahiser W.
2018, Ghatkoper W.
2015, Malad W.
AARTI Society : Redevelopment Project
96 members, Plot: 4000 Mtrs,
C. Area: 2 Lakh sqft, Andheri E.
2022, Malad W.
Arbitrator for Federation Joint Development
2021, D. N. Nagar, Andheri W.
KRUPA PRASAD Society
90 members, Plot: 5000 mtrs,
C. Area: 2.5 Lakh SFt., Andheri W
80 members, Plot: 1500 Mtrs,
C.Area: 1 Lakh sqft, Goregaon W.
Redevelopment of Rajmata + shanti kutir + Swati
Plot: 3000 Mtrs, C. Area:2 lakh sq ft., Andheri W.
AMRIT TARA Society
160 members, Plot: 7000 mtrs,
C.A – 4 lakh sft, Yari Road, Andheri W
46 members, Plot: 2700 Mtrs,
C.Area: 1.2 Lakh sqft, Santacruz W.
SAMRAT + PULKIT Society
120 Members, Plot: 5000 mtrs ,
C.Area: 4 Lakh Sqft, DN Nagar
The Number That Makes Us Who We Are